The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased or otherwise acquired Farfetch Limited (NYSE: FTCH) Class A ordinary shares between September 21, 2018, and August 8, 2019, inclusive, including those who purchased or otherwise acquired Farfetch Class A ordinary shares pursuant and/or traceable to the registration statement and prospectus issued in connection with Company's September 21, 2018 initial public offering.
According to the Farfetch lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company would refuse to reduce merchandise prices to match the rest of the market; (2) this sub-optimal pricing strategy rendered the Company's platform highly susceptible to underpricing by competitors, despite what Defendants touted as a "superior" platform; and (3) as a result, the Company's past and projected Platform Gross Merchandise Value growth rates were foreseeably unsustainable. As a result of the foregoing, Defendants' statements about the Company's business strategy and growth prospects lacked a reasonable basis at all relevant times.
If you suffered a loss in Farfetch you have until November 18, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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